Conseco Surging From Paulson & Co. Stake (CNO)

Posted in Uncategorized 
October 14th, 2009

Conseco, Inc. (NYSE: CNO) might have been lower on its secondary offering, but word that esteemed hedge fund and investor Paulson & Co. took a 9.9% stake has shares running higher on the news.  The full details from last night are available at 24/7 Wall Street.  At 8:36 AM EST we have shares trading up a sharp 21% at $6.05 on over 400,000 shares after a $4.99 close on Tuesday.  Average volume here is about 7 million shares and this one traded over 2 million shares last night and went out at $5.79 in the after-hours according to exchange data.  Look for this to be very active today as an exponential volume mover.

UPDATE 9:03 AM EST: Shares are up 21% at $6.05 on about 600,000 shares.

JON C. OGG

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